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Higher rates lifted returns on bonds, making non-yielding gold less desirable for financial investors, and pushed the dollar to its strongest in 20 years, making dollar-priced gold costlier for many buyers.The weakening U.S. currency and bond yields "will become macro tailwinds for the yellow metal, pushing gold above $2,000/oz in the coming months," said analysts at Bank of America

The brokerage said Jio’s renewed focus on acquiring high ARPU (average revenue per user) customers over the past few quarters could mean that the telco will refrain from implementing a 4G tariff hike in 2023, leading to lower-than-expected Ebitda growth.

The company plans to disrupt the online retail trading space with three similar revolutionary platforms over the next two years in India and in the US.The Hedged app is available on the Google Play Store, and will be available on the Apple App store later this month.

The euro hit a fresh nine-month top of $1.0874 in early trade before retreating to last stand 0.16% lower at $1.0816, while the Australian dollar breached the key $0.7000 level for the first time since August, before dipping back to $0.6962.

The company has fixed the record date as January 18. Providing a clarification on the record date, the company in a BSE filing said, “This is in reference to our earlier intimation regarding the record date for the purpose of bonus shares, whereby the company has fixed January 18, 2023, as the ‘record date’ for the purpose of determining the names of members who shall be entitled for allotment of bonus equity shares.

Total income for the bank rose 23% at Rs 4770 crore against Rs 3893 crore in the year-ago quarter while net interest income rose nearly 30% at Rs 1,980 crore against Rs 1,527 crore. Provisions other than taxes fell 30% at Rs 582 crore against Rs 836 crore.

The Relative Strength Index of the stock stood at 39.25 on Monday.

Thanks also to early strength from sterling and the Japanese yen, the dollar index, which tracks the U.S. unit against a basket of currencies, slumped to a seven-month trough of 101.77, extending its selloff from last week after data showed that U.S consumer prices fell for the first time in more than 2-1/2 years in December.

Mumbai-based Mt. K Kapital is a real estate focused fund management company with Sebi-approved Category II Alternative Investment Fund licence

Public Sector Banks (PSBs) have come a long way over the past five years with profitability of top 7 PSBs under our coverage improving to an estimated Rs 909 billion in FY23 from a loss of Rs 594 billion in FY18. We estimate earnings traction to sustain aided by improved loan growth, margins and controlled credit costs," the brokerage said.